Canadian alternative equity firm Alaris Royalty Corp has invested US$30 million in M-Rhino Holdings LLC, operating as Providence Industries and MyDyer. Based in Long Beach, California, Providence is a provider of design, engineering, development, manufacturing and sourcing services to apparel companies and retailers. In exchange for the investment, Alaris will receive a US$4.5 million distribution for the first full year following the deal. Alaris also committed US$4.35 million in follow-on capital to existing partner LMS Reinforcing Steel Group of Surrey, British Columbia. LMS recently acquired Johasee Rebar Inc.
9 min read · 01 April 2016
Corus Entertainment Inc (TSX: CJR.B) has closed its previously announced $2.65 billion buy of Shaw Media Inc from its sister company Shaw Communications Inc (TSX: SJR.B). Toronto-based Corus said the deal more than doubles the size of its media and content business. Canadian private equity firm Catalyst Capital Group, a Corus minority shareholder, had opposed the acquisition.
10 min read · 01 April 2016
Highline Produce Ltd (Highline Mushrooms), a Canadian portfolio company of U.S. private equity firm Peak Rock Capital, has been acquired by Fyffes plc. Fyffes, an Irish fruit and fresh produce company, said in a separate statement that it paid $145 million (98 million euros) to acquire Highline's equity and refinance its debt. Leamington, Ont.-based Highline is an integrated mushroom business with five facilities in Ontario and Québec. The post-acquisition company will continue to be led by its existing management team. Founded in 1961, Highline received an investment from Peak Rock in November 2014.
3 min read · 01 April 2016
Actuant Corp (NYSE: ATU) has acquired the Middle East, Caspian and North Africa division (FourQuest MENAC) of Canada's FourQuest Energy Inc for about US$60 million. Based in Dubai, United Arab Emirates, FourQuest MENAC is a provider of pipeline and process services in the region. Actuant, a U.S. diversified industrial company, said the acquisition enhances its position as a specialist in maintenance services in the energy space. Edmonton-based FourQuest Energy is an oil field services business. It has been backed by Canadian private equity firm Fulcrum Capital Partners since September 2012.
3 min read · 01 April 2016
U.S. insurance technology company Vertafore has closed its acquisition of Keal Technology, a provider of broker and commercial management systems in Canada. No financial terms were released for the deal, which was announced last month. Bothell, Wash.-based Vertafore has been a portfolio company of U.S. private equity firm TPG Capital since 2010.
2 min read · 31 March 2016
Canada’s top 10 first-quarter venture-capital financings drew more than $416 million from investors, more than double the $191 million that went into the top 10 deals a year earlier. That estimate is based on a PE Hub Canada list of the largest disclosed financings announced between January and March. It has been compiled in advance of the broader VC market reports expected in coming weeks from the Canadian Venture Capital & Private Equity Association and Thomson Reuters.
3 min read · 31 March 2016
Proxy advisory firms Glass, Lewis & Co LLC and Institutional Shareholder Services Inc (ISS) have recommended that shareholders of Boulder Energy Ltd (TSX: BXO) vote in favour of the company's acquisition by Canadian private equity firm ARC Financial Corp. The deal, announced last month, is intended to take Boulder private at a value of $268 million, including debt. Shareholders will vote on April 12th. Based in Calgary, Boulder is a junior oil and natural gas company focused on production in the Alberta Deep Basin.
3 min read · 31 March 2016
Ceridian Canada Ltd, a human resources software and services provider, has received $150 million in funding. The investment was made by U.S. private equity firm Thomas H. Lee Partners and Fidelity National Financial Ventures Group, which acquired Ceridian for about US$5.3 billion in a take-private deal in November 2007. Ceridian's management team, including Chairman and CEO David Ossip, also invested. Ceridian, which operates from Minneapolis, Minnesota and Toronto, said the funding will be used to sustain growth of the company's Dayforce HCM product, a cloud-based talent management application. Dayforce revenue grew 59 percent in 2015, Ceridian reported.
2 min read · 31 March 2016
Cadillac Fairview Corp Ltd has invested $77 million in CF Masonville Place, a shopping mall located in London, Ontario. The investment will support the largest effort to modernize the complex since it opened in 1985. Based in Toronto, Cadillac Fairview is the real estate investment arm of Ontario Teachers' Pension Plan.
4 min read · 31 March 2016
Sydney, Nova Scotia-based Ubique Networks Inc, developer of a lag-less gaming technology platform, has raised a pre-Series A financing round. The investment, which was not disclosed, was provided by Canadian venture capital firms Extreme Venture Partners (EVP) and Innovacorp. Launched last year, Ubique has created a network intelligence and optimization platform that reduces lag in multiplayer online games and e-sports. The company said that while it is currently focused on gaming, its technology can ultimately be applied to many sectors.
3 min read · 31 March 2016
